SEC proposes crypto token sale rules but leaves secondary market question unresolved
- —Offering cap: $5 million over four years at the early stage
- —At the funding stage, up to $75 million over 12 months
- —The safe harbor removes investment contract status if conditions are met
- —The rule is not final: 60 days for comments after publication
Why it matters: Uncertainty over the secondary market keeps legal risks in place for exchanges and token holders in the U.S.
Source: TokenPost
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